25 Oct 2013

AMP triples quarterly cashflow

2:01 pm on 25 October 2013

The Australian-owned wealth and insurance firm AMP says its New Zealand net cashflows nearly tripled in the three months to September, compared with the same period in 2012.

AMP New Zealand's third-quarter update shows net cashflows rose to $75 million from $28 million, including a 16% increase in KiwiSaver cashflows.

Total New Zealand assets under management in the September quarter amounted to $13.3 billion, a 5% rise from the June quarter.